Treasure of another kind

Cherry Picker · Apr 20, 2006

I've posted this before but with a new season and new users I thought I'd post a reminder.

While looking for those good places to detect don't overlook that less conspicuous treasure. Rotting classics. Often we detect private yards and pay no attention to these often missed treasures.

You may have seen some of these on Barrett Jackson or Ebay and know the potential treasure rotting in that backyard but you also could be walking by the biggest find in your life.

Classic cars, especially muscle cars, have exploded in value of the last 5 years. That old junker setting in your backyard could pay for you a new house. I've ran into many myself and even made a few bucks from them. A few years ago I found a 1970 mustang Mach I I gave the guy $1000 for put on a paint job and sold it for $10,000.

Just here in Dodge City I know of several treasures I'm working on. One guy has a 1969 Charger RT(SE) rotting in a field along with 2 Cuda's. The Charger is a $40,000 car and the Cuda's potentially are worth hundreds of thousands of dollars. I saw two such Cuda's go through Barrett Jackson a few months back one went for $400,000 and the other $450,000.

Of course the ones rotting in the backyard are not going to bring this fully restored price but you might be surprised what you can get with little to no investment of your own.

For example, the rotting shell(no motor, trany, glass seats) of a common looking mustang can bring $5,000-$10,000 on ebay depending on its options. Just last week I walked through one of our junkyards and found a 1969 GTO Judge(potentially a $40,000 car) a 1963 Chevy Impala convertible original 4 spd 409 SS(another possible $40,000) and a 1965 GTO just rotting away.

My point is while your out there don't overlook these treasures. If you know of such classics do some research and you might just hit the jackpot. If you don't want to bother you can give others the chance to save these rotting American classic by listing it here.

http://www.detectorsplace.com

Carol K · Apr 20, 2006

Thanks for the reminder, Detector. I hate seeing old classics sitting... rotting away.

Even if I can't do anything about them, I at least take pictures of them.

smg · Apr 20, 2006

Thats a real good idea, Only you have to have money to make money, unless the bank makes loans to fix up cars. I don't know, but I have a friend who has a vintage cuda sitting in his shed, handed down from his wifes father who passed away. Does he do anything to it, No. I was shocked, its mint, but a little faded, but he has not the least desire to let it go or fix it up. Will probably give it to one of his kids if they show an interest. I do know he wouldn't sell it no matter what ou offered. Sad. But true. smg

Cherry Picker · Apr 20, 2006

I know what you mean I've ran into a few that make ya just wanna cry.

I know a lady east of town that rumor had it had a 1967 mustang Shelby setting in a barn. I finally found the place and talked with her and looked at the car. They had bought the car brand new and in 1978 they had it totally restored inside and out. They weren't happy with the paint job because of a few cracks in the clear coat and tried to sue the paint shop and failed. She said she was so mad she just parked it in the barn and its been there since. When asked if she would sell it she said "No, I don't think so." then she says "You know that thing is probably worth $9,000 or $10,000?"

Well shes clearly a stranger to the resent muscle car boom. A 1967 Shelby fully restored and probably low mileage is worth closer to $60,000 to $100,000. possibly more. It was the saddest sight I've seen in a long time. Over behind two combines set this like new classic just rotting away.

You don't need to invest any money unless you want to fix it up to increase the profit. They call it a finders fee.

What happens is you find a car and check its value at either http://www.nadaguides.com pick Classic Cars then Collectibles or go to Ebay and see what they are selling for.

Say, for example, my car. When I listed it I gave the normal buyer requirements which includes a deposit. In most cases its the price the person wants for the car or half the price of the winning bidder. That money is generally required upfront 2-3 days after the auction ends. When I sold my car on Ebay the guy wired me $5,000 the next day as a deposit. They then go but the car from the present owner.

bearbqd · Apr 20, 2006

Oh I'm all about that. Yes sir. That's what my best friend and I have been doing for the past year and 2 months. Just to let you all in on a little secret, we saved up a total of $1,600.00 to start with, bought a 69 charger with it and sold it on ebay for $9,700 with only a few hundred extra invested in it. From there we went on to buy and sell several more with our last one being and extremely rare 69 camaro that we picked up for $14,000.00. Keep in mind this car would have looked like a basket case to the untrained eye and was in need of a complete restoration. The motor and transmission weren't even in it. However, the crucial parts and motor did come with the car and we sold the vehicle for.....get this, $95,000.00. I'm not joking. Restored, this car will probably bring about 2 to $300,000 on Barrett Jackson. The guys who bought it had the front clip torn off that night and it is now to bare metal. They said they will have it at the GM Carlisle 2007--finished! It not only allowed me to get the show car 73 Cuda found on this site in the "other" discussion section, but it also allowed my buddy to get a cherry 69 GTO Judge clone, pay of some bills and still have plenty of capital to keep the business going. Luckily I have been absorbed by musclecars my whole life and know plenty about them, what is desirable, and what sells. My lifetime of knowledge on these cars is partly what has fueled our success. Like any business, find what you love to do and figure out how to make money at it.

By the way, I pay finders fees for vehicles that I actually buy so those around upper West Virginia, keep your eyes peeled for me.

Hey detector, you should go offer that lady 10k for that Shelby or tell me and I will and pay you too. :yes:

Cherry Picker · Apr 21, 2006

When I bought my Mach I it was not to resell it but as a project car to keep and drive. I've always been a mustang freak. My first car was a 1965 mustang convertible 4spd 289 HIpO. I struggled with the idea of selling the Mach for almost a year but a lack of funds to do the restore right and the thought of paying off everything I owed won out.

My thoughts were I could sell the Mach for enough to payoff all my bills, find another and have the money to restore it right or as you're doing use the money to find an even better project such as that Shelby. I did payoff every bill I had, bought the wife(in cash) a nice Explorer and put aside enough cash to buy another project.

My brother found a 1967 mustang fastback GTA for $4,500. He saw what they were selling for and went to the bank got the money and 10 days later sold it on Ebay for $14,800 without doing anything to the car. I know a few people that have quit their jobs and thats all they do now.

Two possible projects I'm working on right now are a 1969 GTO Judge(not a clone)

and a 1971 GTO Judge(also not a clone) only 357 made that year

In the mean time I bought this 1967 Fairlane 500(fastback) to keep me busy. Its no big $$$ seller but I just like the style.

bearbqd · Apr 21, 2006

And where are those Judges??

Yeah, I used to be a Mustang freak too until I got bit by a Bad A Barracuda. 67 and 68 shelbys are still my second favorite car and would love to have one one day. I too hope within the next year to quit my job and do this full time. We have a 68 GTO we're about to move at the moment and then we have several to decide on after that. Great hobby and great income potential for sure.

mark v · Apr 22, 2006

I love muscle cars. I have 2.

Look up "carsinbarns.com".

bearbqd · Apr 22, 2006

Cars in Barns makes me mad. We have several cars on there that we've posted.

mark v · Apr 22, 2006

Yes, you're right. It's a real shame some of the nice old cars just going to waste. There are a few near me that the owners will not sell. They're going to fix them up!

Cherry Picker · Apr 22, 2006

An example of treasure to be found is this one. I bought it for $1,000 and it looked like this

All I did was put a paint job on it some wheels and sold it for $10,000. Heres what it looked like when I sold it.

mark v · Apr 22, 2006

Detector said:
An example of treasure to be found is this one. I bought it for $1,000 and it looked like this

All I did was put a paint job on it some wheels and sold it for $10,000. Heres what it looked like when I sold it.

Nice

Jeff R · Apr 24, 2006

I've had my eye on an old milk truck for 20 years.
My wife thinks I crazy. But I just love the looks of the thing.

~Alan~ · Apr 24, 2006

I'm not really into cars myself, I have to make do with a Honda Accord.

I took this picture at an event at Southend Airport last year, when a few custom cars turned up.
A chap had bought this Mustang from the States, where it had been rebuilt, right down to the last nut and bolt.
It was in immaculate condition

bearbqd · Apr 27, 2006

Here's the before and after of the Charger we started out with

Treasure of another kind

Cherry Picker

Carol K

Co-owner

smg

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Cherry Picker

bearbqd

Elite Member

Cherry Picker

bearbqd

Elite Member

mark v

Senior Member

bearbqd

Elite Member

mark v

Senior Member

Cherry Picker

mark v

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Jeff R

Elite Member

~Alan~

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bearbqd

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